ISLAMABAD – The petrol price in cash-strapped Pakistan is likely to go downby Rs30 per litre in the coming days, reports in local media claimed,quoting well-informed sources in the petroleum division.
The development comes as crude oil prices plunged globally while negativetrading will continue in the upcoming sessions.
Reports suggest that Pakistan is currently getting petrol at $76 to $77 perbarrel while levy charges on key petroleum products are Rs50 per litre withzero sales tax.
It was reported that a final decision about revised petroleum prices willbe announced after prime minister Shehbaz Sharif and finance chief IshaqDar’s meeting on OGRA’s recommendations.
Earlier this month, the government kept the price of petrol unchanged atRs224.80 per litre.
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The reports come on the heels as Moscow agreed to sell crude oil to a SouthAsian country at a discounted price as a Pakistani delegation visitedRussia to negotiate the deal. Minister however did not mention the price ofthe discounted Russian oil.
In previous months, the incumbent government increased petrol prices inlight of pre-requisites by the global lender to revive the much-needed IMFprogramme.
